'Will review Companies Act, regulations related to SEZs and FTAs': Commerce Min

The Union Commerce Minister, Nirmala Seetharaman today on Saturday said that Companies Act, rules and regulation relation to Special Economic Zone (SEZs) and all the FTAs, which were signed will be reviewed. These measures are to give boost the investments into the country and bring back the investors sentiments back.

 

Nirmala Seetharaman, the Union Commerce Minister in the Narendra Modi led Government said that a "major" consultation meeting is scheduled for next Saturday to discuss about the Companies Act.  The Ministry has invited all the stakeholders to attend the Meeting.

 

The Act has posted lots of difficulties and there are areas which are affecting all the stakeholders. All these will be discussed and necessary actions will be taken, she said.

 

Commenting on SEZs in the country, again there are constrains relates to the SEZs and said her Ministry want to understand why they could not raise, what are the difficulties and constrains relates to the SEZs.

 

g Again necessary instructions were given to the Department officials  to get into this,” said the Union Minister, who added all the laws, policies and tax related issues to the SEZs will be reviewed, she said.

 

On Free Trade Agreements, she said, a complete analysis will be taken up the Ministry and in the next 15 days officials from the Department will give a report, following which the Ministry would look into it.

 

FTAs, which were signed by India with various countries, were not leveraged in some cases,” said the Minister.

 

She added, currently their is a mixed reaction about FTAs and not every FTAs is benefited. "We need to look at this so that the future we can learn lesson and not to replicate the same in the new ones".